WG»Topics» Our operations are subject to a number of operational risks.

Our business operations include pipeline construction,
fabrication, pipeline rehabilitation services and the operation
of heavy equipment. These operations involve a high degree of
operational risk. Natural disasters, adverse weather conditions,
collisions and operator error could cause personal injury or
loss of life, severe damage to and destruction of property,
equipment and the environment, and suspension of operations. In
locations where we perform work with equipment that is owned by
others, our continued use of the equipment can be subject to
unexpected or arbitrary interruption or termination.

The occurrence of any of these events could result in work
stoppage, loss of revenue, casualty loss, increased costs and
significant liability to third parties.

The insurance protection we maintain may not be sufficient or
effective under all circumstances or against all hazards to
which we may be subject. An enforceable claim for which we are
not fully insured could have a material adverse effect on our
financial condition and results of operations. Moreover, we may
not be able to maintain adequate insurance in the future at
rates that we consider reasonable.

Our business operations include pipeline construction, dredging, fabrication, pipeline rehabilitation
services, marine support services and the operation of vessels and heavy equipment. These operations involve a high degree of operational risk. Natural disasters, adverse weather conditions, collisions and operator or navigational error could cause
personal injury or loss of life, severe damage to and destruction of property, equipment and the environment and suspension of operations. In locations where we perform work with equipment that is owned by others, our continued use of the equipment
can be subject to unexpected or arbitrary interruption or termination. The occurrence of any of these events could result in work stoppage, loss of revenue, casualty loss, increased costs and significant liability to third parties.

The insurance protection we maintain may not be sufficient or effective under all circumstances or against all hazards to which we may be subject. An
enforceable claim for which we are not fully insured could have a material adverse effect on our financial condition and results of operations. Moreover, we may not be able to maintain adequate insurance in the future at rates that we consider
reasonable.

Our business operations include pipeline construction, dredging, fabrication pipeline rehabilitation services, marine
support services and the operation of vessels and heavy equipment. These operations involve a high degree of operational risk. Natural disasters, adverse weather conditions, collisions and operator or navigational error could cause personal injury
or loss of life, severe damage to and destruction of property, equipment and the environment and suspension of operations. In locations where we perform work with equipment that is owned by others, our continued use of the equipment can be subject
to unexpected or arbitrary interruption or termination. The occurrence of any of these events could result in work stoppage, loss of revenue, casualty loss, increased costs and significant liability to third parties.

The insurance protection we maintain may not be sufficient or effective under all circumstances or against all hazards to which we may be subject. An
enforceable claim for which we are not fully insured could have a material adverse effect on our financial condition and results of operations. Moreover, we may not be able to maintain adequate insurance in the future at rates that we consider
reasonable.